The FSA Spy market buzz – 22 November 2024
Dimensional excludes the Middle Kingdom; JP Morgan’s optimistic outlook; Household wealth is rocketing; Schroders is thinking about privates; Ninety One’s pithy AI; German woes and much more.
HEAD-TO-HEAD: Aviva Investors versus Axa IM
FSA compares two global high yield fixed income products: the Axa Global High Yield Bond Fund and the Aviva Global High Yield Bond Fund.
CONCLUSION
The Axa Global High Yield Bond Fund has a Morningstar analyst rating of silver for its clean share class. Other share classes are rated between silver, bronze and neutral, depending on fees.
The Aviva Investors Global High Yield Bond Fund has a Morningstar analyst rating of neutral for its clean share class and the majority of other share classes, while some more expensive share classes are rated negative.
“Both strategies have outperformed their respective Morningstar Global High Yield Bond peer group on both absolute- and risk-adjusted basis since the current respective portfolio managers took over,” said Gkeka.
“Their profiles and portfolio constructions differ, so investors should consider these differences when comparing the offerings on what’s right for them and their attitude to risk,” she said.
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